Internet Marketing and Network Marketing have similarities and differences. We will look at both so you can better decide what may be better for you if your deciding to get involved in either one.
Internet Marketing is any type of marketing (promotion of goods or services) done on what you are viewing this article on, the Internet. It’s important to realize that Internet Marketing can be used to promote just about anything, as companies are using the internet to market their primary products and services and have been doing so for quite some time.
The simplest explanation of Network Marketing is a method of marketing that utilizes independent representatives to reach potential customers that a company otherwise would not reach with traditional marketing methods. The companies main objective by using network marketing is to use the potential of individual sellers to spread the word about the products promoted as well as have the individual become a distributor to sell the product in their community, thus creating a network for the product.
Since we’ve looked at the general definition of each of these, let’s look at the main benefits of each:
Any type of product or service can be promoted
The internet can be used to market products that market themselves without the individual constantly working the business; thus creating time leverage
With enough determination, just about anyone, whether an individual or a fortune 500 company, can learn effective internet marketing strategies to sell a product or service
A huge amount of people can be reached through the internet; thus allowing the potential for a huge business environment for a product or service
The cost of domain (website name) and hosting for a company or individual’s website is relatively very inexpensive compared to traditional business models
Primarily consists of products that need to be reordered constantly; causing repeat business
Allows individuals to recruit other business minded people to promote the product; building their own sales force that also generates commissions
With enough determination, just about any individual can build their own network marketing business, while recruiting others to leverage their own time working the business
A large network of consumers and recruits can be built in a relatively short amount of time; depending on the individual’s work ethic and effectiveness with network marketing
Offline as well as online marketing can be used in conjunction with the network marketing business; enabling a huge potential for the business itself
The buy in to start a network marketing business, although higher than to get started in internet marketing, is still relatively inexpensive.
Both Sound Really Good, huh?
Well not so fast let’s look at some of the drawbacks of the two, based on my own experience as well as many experienced marketers.
Internet Marketing Drawbacks:
Huge learning curve behind effective internet marketing strategies; this can seem very daunting for person with other responsibilities such as work, family, etc.
Huge technical learning curve that could possibly be unrealistic to most who are not “tech-savvy”
Having a great product is only half the battle; effective marketing behind the product is essential for the business to thrive and this is where the “work” ethic separates most initial marketers
“Information Overload” – the amount of information to even get started as an internet marketer can possibly make some individuals “run for the hills” or get out altogether before they even get started
Network Marketing Drawbacks:
Although initially successful, some network marketing companies fail altogether; leaving high paid distributors commissions virtually gone
Amount of responsibility in recruiting others into the network marketing business can be daunting to some people; especially to more introverted types
Successful network marketers must continually keep their downline (people recruited into their business) motivated, and this can be challenging for some individuals
Although never recommended; some individuals resort to attempting to bring in their friends and family into their business, and this may create personal problems
So Which One Is Best For You?
Through my own personal experience it’s my recommendation that if you are the more introverted type of person (shy, likes to work alone, doesn’t like large groups, etc.), then Internet Marketing is a good fit for you. Being able to promote a product and never deal with the customer will really appeal to these types of individuals.
On the other hand, if your the extroverted type (life of the party, very outgoing, always center of attention, etc.), then Network Marketing would be a great match for you. Constantly dealing with your business partners, motivating, encouraging, and discussing different business strategies will really appeal to you.
Or if you’re like myself and the more introverted type but see the huge potential behind network marketing, you’ll quickly get over the shyness because your so motivated about your business. This has happened to many individuals who discover the huge benefits of operating a business over a job.